$289.28 Million in Sales Expected for JAKKS Pacific, Inc. (JAKK) This Quarter
Brokerages expect JAKKS Pacific, Inc. (NASDAQ:JAKK) to announce $289.28 million in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have made estimates for JAKKS Pacific’s earnings, with the highest sales estimate coming in at $298.65 million and the lowest estimate coming in at $272.50 million. JAKKS Pacific reported sales of $302.79 million in the same quarter last year, which indicates a negative year over year growth rate of 4.5%. The company is expected to issue its next earnings report on Thursday, October 19th.
According to Zacks, analysts expect that JAKKS Pacific will report full year sales of $289.28 million for the current financial year, with estimates ranging from $653.60 million to $678.76 million. For the next year, analysts forecast that the business will report sales of $670.87 million per share, with estimates ranging from $640.50 million to $693.22 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that follow JAKKS Pacific.
JAKKS Pacific (NASDAQ:JAKK) last released its quarterly earnings results on Tuesday, July 25th. The company reported ($0.66) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.21) by ($0.45). The company had revenue of $119.57 million during the quarter, compared to the consensus estimate of $134.02 million. JAKKS Pacific had a negative net margin of 1.76% and a negative return on equity of 7.07%. The firm’s revenue was down 15.2% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.27) earnings per share.
A number of research analysts have weighed in on JAKK shares. Zacks Investment Research cut shares of JAKKS Pacific from a “hold” rating to a “strong sell” rating in a research note on Thursday, July 27th. BMO Capital Markets reiterated a “hold” rating and issued a $6.00 target price on shares of JAKKS Pacific in a research note on Thursday, July 13th. Jefferies Group LLC reiterated a “hold” rating and issued a $3.50 target price (down from $4.50) on shares of JAKKS Pacific in a research note on Saturday, September 30th. ValuEngine lowered shares of JAKKS Pacific from a “sell” rating to a “strong sell” rating in a research report on Friday, September 1st. Finally, Stifel Nicolaus reissued a “hold” rating and issued a $5.50 price target on shares of JAKKS Pacific in a research report on Monday, July 10th. Two research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $4.38.
In other news, CEO Stephen G. Berman bought 10,000 shares of the firm’s stock in a transaction that occurred on Monday, August 7th. The shares were acquired at an average price of $3.40 per share, with a total value of $34,000.00. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 5.20% of the company’s stock.
Institutional investors have recently bought and sold shares of the stock. Lazard Asset Management LLC bought a new stake in JAKKS Pacific during the 1st quarter worth approximately $271,000. Municipal Employees Retirement System of Michigan bought a new stake in JAKKS Pacific during the 2nd quarter worth approximately $318,000. JPMorgan Chase & Co. increased its holdings in JAKKS Pacific by 38.9% during the 1st quarter. JPMorgan Chase & Co. now owns 1,603,398 shares of the company’s stock worth $8,820,000 after acquiring an additional 448,687 shares during the period. Bank of New York Mellon Corp increased its holdings in JAKKS Pacific by 1.4% during the 1st quarter. Bank of New York Mellon Corp now owns 214,660 shares of the company’s stock worth $1,181,000 after acquiring an additional 3,068 shares during the period. Finally, Tudor Investment Corp ET AL increased its holdings in JAKKS Pacific by 16.5% during the 1st quarter. Tudor Investment Corp ET AL now owns 25,835 shares of the company’s stock worth $142,000 after acquiring an additional 3,664 shares during the period. 56.04% of the stock is currently owned by institutional investors and hedge funds.
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JAKKS Pacific (NASDAQ JAKK) opened at 3.05 on Friday. The company’s market capitalization is $69.45 million. JAKKS Pacific has a 12-month low of $2.67 and a 12-month high of $8.50. The firm has a 50-day moving average of $3.16 and a 200 day moving average of $4.05.
JAKKS Pacific Company Profile
JAKKS Pacific, Inc is a multi-line, multi-brand toy company. The Company designs, produces, markets and distributes toys and related products, pet toys, consumables and related products, electronics and related products, kids indoor and outdoor furniture, and other consumer products. The Company operates through two business segments: traditional toys and electronics, and role play, novelty and seasonal toys.
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